North America Oil Field Specialty Chemicals Market, By Type (Surfactants, Demulsifiers, Inhibitors, Biocides, Additives, Acids, Deformers, Polymers, Friction Reducers, Emulsifiers, Iron Control Agents, Dispersants, Viscosifiers, Wetting Agents, Retarders and Others), Location (Onshore and Offshore), Application (Drilling, Stimulation, Production, Enhanced Oil Recovery (EOR), Cementing, Workover & Completion and Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2028.
Market Analysis and Insights: North America Oil Field Specialty Chemicals Market
North America oil field specialty chemicals market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 4.8% in the forecast period of 2021 to 2028 and expected to reach USD 1,038,955.57 thousand by 2028.
The oil field specialty chemicals are those chemicals which are commonly used in the recovery of oil efficiently from the resources with impacting the environment and equipment. Oil field specialty chemicals have several positive functions such as improved oil recovery, drilling optimization, corrosion protection, prevent mud loss in different geological formations, and stabilize drilling fluid in high pressure and high temperature environment and many others.
The demand for crude oil and the by-products are increasing in various sectors, which boosted the oil explorations in Middle East countries. The productions of oil production in Middle East countries have grown to a larger extend. The import and export of crude oil products among regions have increased, leading to the growth of oil exploration.
This oil field specialty chemicals market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Oil Field Specialty Chemicals Market Scope and Market Size
North America oil field specialty chemicals market is segmented of the categorized into type, location and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the oil field specialty chemicals market is segmented into surfactants, demulsifiers, inhibitors, biocides, additives, acids, deformers, polymers, friction reducers, emulsifiers, iron control agents, dispersants, viscosifiers, wetting agents, retarders and others. In 2021, the demand for surfactants segment is increasing due to increasing oil exploration and oil refining industry.
- On the basis of location, the oil field specialty chemicals market is segmented into onshore and offshore. In 2021, onshore location segment is expected to dominate as more extraction activities are done on existing reservoir increasing the demand for the oil field specialty chemicals for onshore location in the region.
- On the basis of application, the oil field specialty chemicals market is segmented into drilling, stimulation, production, enhanced oil recovery (EOR), cementing, workover & completion and others. In 2021, rigorous drilling activities are going on in the region for the production of petroleum products which make the drilling segment to dominate in the region.
North America Oil Field Specialty Chemicals Market Country Level Analysis
North America oil field specialty chemicals market is segmented of the categorized into type, location and application.
The countries covered in North America oil field specialty chemicals market report are U.S., Canada and Mexico.
U.S. is dominating the North America market due to more drilling activity at existing reservoir which increases the demand for oil field speciality chemicals in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rise in the Demand for Petroleum in Automotive Industry
Oil field specialty chemicals market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in oil field specialty chemicals market and changes in regulatory scenarios with their support for the oil field specialty chemicals market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Oil Field Specialty Chemicals Market Share Analysis
North America oil field specialty chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America oil field specialty chemicals market.
The major market players engaged in the oil field specialty chemicals market are BASF SE, Solvay, DOW, Baker Hughes Company, Clariant, Evonik Industries, Kemira, Thermax Limited, Huntsman International LLC., Colonial Chemical Inc., Innospec, CES Energy Solutions Corp, Stepan Company, Chevron Phillips Chemical Company LLC, Kraton Corporation., Jiaxing Midas Oilfield Chemical Mfg Co., Ltd, Versalis S.p.A, Halliburton, and Albemarle Corporation among others.
Many expansions are also initiated by the companies worldwide which are also accelerating the growth of oil field specialty chemicals.
For instance,
- In April 2021, Master Bond Inc. launched a new product, MasterSil 153AO, an adding cured two-part silicone with a self-priming property with a thermally conductive and electrically insulating structure. The product launch was made to bring variety to their existing product portfolio
- In October 2020, Epoxies Etc. formulated a new epoxy product, 20-3305, which was developed to withstand high-voltage electronic needs and protects electronic assemblies from heat cycling and stress. This product was launched to bring a variety to their product portfolio in terms of thermal shock resistance
- In May 2020, Electrolube revealed the success of its ER2221 resin, which is used to safeguard EV batteries in India's most popular two-wheeler cars. The product launch was implemented to assist their Indian customers to help them to improve thermal management issues
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company market in the oil field specialty chemicals market which also provides the benefit for organization to improve their offering for oil field specialty chemicals.
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